You will be redirected back to your article in seconds

Matthews to sell grip biz

Phillips to buy outfit for $15 mil

Matthews Studio Group has announced plans to sell off its grip manufacturing subsidiary, a move the production equipment supplier says will enable it to focus entirely on its core rental business.

The Burbank-based company said it would sell manufacturing arm Matthews Studio Equipment Inc. for $15 million to parent company co-founder Edward Phillips. Phillips will head the new company, which is expected to retain its name. The split includes the transfer of all of Matthews’ shares of common stock in the subsidiary to Phillips in exchange for his 1.9 million shares of Matthews stock. Phillips will also assume $5 million of debt Matthews Group invested in the subsidiary. The deal is expected to be completed by the end of summer.

More Biz

  • This, photo shows the 21st Century

    Sony Pictures Joins 21st Century Fox Hunt as Deal Talk Spreads Across Biz

    Matthews Studio Group has announced plans to sell off its grip manufacturing subsidiary, a move the production equipment supplier says will enable it to focus entirely on its core rental business. The Burbank-based company said it would sell manufacturing arm Matthews Studio Equipment Inc. for $15 million to parent company co-founder Edward Phillips. Phillips will […]

  • Songs for Screens Powered by Mac

    Songs for Screens: Exclusive Premiere From Poo Bear and T-Bone Burnett; The Avalanches Hit The Slopes With North Face (Listen)

    Matthews Studio Group has announced plans to sell off its grip manufacturing subsidiary, a move the production equipment supplier says will enable it to focus entirely on its core rental business. The Burbank-based company said it would sell manufacturing arm Matthews Studio Equipment Inc. for $15 million to parent company co-founder Edward Phillips. Phillips will […]

  • India’s PVR Buys Stake in iPic

    India’s PVR Buys Stake in iPic U.S. Luxury Theater Chain

    Matthews Studio Group has announced plans to sell off its grip manufacturing subsidiary, a move the production equipment supplier says will enable it to focus entirely on its core rental business. The Burbank-based company said it would sell manufacturing arm Matthews Studio Equipment Inc. for $15 million to parent company co-founder Edward Phillips. Phillips will […]

  • Fusion Media Group

    Univision Seeking to Sell Minority Stake in Fusion Media Group

    Matthews Studio Group has announced plans to sell off its grip manufacturing subsidiary, a move the production equipment supplier says will enable it to focus entirely on its core rental business. The Burbank-based company said it would sell manufacturing arm Matthews Studio Equipment Inc. for $15 million to parent company co-founder Edward Phillips. Phillips will […]

  • Brett Ratner

    Brett Ratner Steps Down From Simon Wiesenthal Center Board Amid Sexual Misconduct Claims

    Matthews Studio Group has announced plans to sell off its grip manufacturing subsidiary, a move the production equipment supplier says will enable it to focus entirely on its core rental business. The Burbank-based company said it would sell manufacturing arm Matthews Studio Equipment Inc. for $15 million to parent company co-founder Edward Phillips. Phillips will […]

  • Brian Roberts Comcast James Murdoch Fox

    21st Century Fox Shares Soar on Reports of Comcast Acquisition Overture, Verizon Interest

    Matthews Studio Group has announced plans to sell off its grip manufacturing subsidiary, a move the production equipment supplier says will enable it to focus entirely on its core rental business. The Burbank-based company said it would sell manufacturing arm Matthews Studio Equipment Inc. for $15 million to parent company co-founder Edward Phillips. Phillips will […]

  • TV digital advertising spending

    Surprise: U.S. Pay-TV Subscribers Actually Grew Overall in Q3, Thanks to Internet Television

    Matthews Studio Group has announced plans to sell off its grip manufacturing subsidiary, a move the production equipment supplier says will enable it to focus entirely on its core rental business. The Burbank-based company said it would sell manufacturing arm Matthews Studio Equipment Inc. for $15 million to parent company co-founder Edward Phillips. Phillips will […]

More From Our Brands

Access exclusive content